How to calculate retained earnings balance
[DOC File]Godgift
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According to the balance sheet, retained earnings declined. Additions to RE = NI – Div. So, the only two things that can change retained earnings are net income and dividends. The company does not pay dividends, so retained earnings declined because net income was negative. Therefore, statement a …
[DOC File]JustAnswer
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Trial balance totals $6,610; (d) Gross profit $460. P5-4B (a) Net income $28,300, Retained earnings $32,500, Total assets $313,800. P5-5B Net income $145,000. P5-6B (b) Ending balances: Accumulated Depreciation- Equipment $61,000. Adjusted trial balance totals $1,015,400. Net income $15,200, Retained earnings $33,200, Total assets $200,400
[DOC File]CHAPTER 2
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k. Retained earnings. l. Items excluded from balance sheet. Using the letters above, classify the following accounts according to the preferred and ordinary balance sheet presentation. 1. Bond sinking fund. 2. Common stock distributable. 3. Appropriation for plant expansion. 4. Bank overdraft. 5. Bonds payable (due 2010) 6. Premium on common stock. 7.
[DOC File]LN Ch.1 981
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Calculate retained earnings balance. b 101. Calculate current and long-term liabilities. c 102. Summary of significant accounting policies. c 103. Classification of investing activity. a 104. Classification of operating activity. d 105. Classification of financing activity. b 106. Classification of investing activity.
[DOC File]Financial Statements, Cash Flows, and Taxes
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Nov 17, 2010 · the data given below, calculate the retained earnings balance as of December 31, 2009. Retained Earnings, December 31, 2008 $420,000 Cost of equipment purchased during 2009 125,000 Net loss for the year ended December 31, 2009 43,000 Dividends declared and paid in 2009 55,000 Decrease in cash balance from Jan.1, 2009 to Dec. 31, 2009 12,000 Decrease in long-term debt in …
[DOC File]CHECKLIST OF KEY FIGURES - Wiley
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Find the retained earnings ending balance in the company’ general ledger on the previous page. Insert the retained earnings balance into the post-closing trial balance. Calculate the total debits and total credits and insert the totals into the post-closing trial balance. Guitar Lessons Corporation . Post-closing Trial Balance. December 31
[DOC File]accountingreviewmaterials « Be a CPA with or without a ...
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Part B. At January 1, 2010, Bakersfield, Inc.'s retained earnings balance was $200,000. Assume that income from continuing operations (before taxes) and after correctly considering any of the seven additional items was $1,000,000. Prepare the income statement and statement of retained earnings. Denote negative numbers by using brackets < >.
[DOC File]Godgift
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Oct 04, 2010 · Calculation of 12/31/12 Consolidated Retained Earnings. Platt Company's retained earnings on 12/31/12 $ 1,800,000. Less the amount of Platt Company's retained. earnings that have not been realized in transactions . with third parties or through depreciation ($180,000 - $30,000) (150,000) Platt Company's retained earnings that have been realized ...
[DOC File]Accounting Equation:
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3-2 The four financial statements contained in most annual reports are the balance sheet, income statement, statement of retained earnings, and statement of cash flows. 3-3 No, because the $20 million of retained earnings would probably not be held as cash. The retained earnings figure represents the reinvestment of earnings by the firm.
How to Find the Beginning Retained Earnings on a Balance Sheet | …
8. Assume that a company had a beginning balance in Retained earnings of $12,000. The company earned revenues of $3,600 and incurred expenses of $1,600. The ending balance in Retained Earnings was. a. $10,000. b. $13,600. c. $14,000. d. $15,200.
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